Trade number two seems to be taking place.  Wojo via Yahoo is reporting the Knicks are close to acquiring Tracy McGrady.  Here are the specifics.  I cannot believe the Knicks giving up first round picks again.

The Knicks and Rockets have designed the framework of a deal that would unload New York’s Jared Jeffries(notes), Jordan Hill(notes) and either Al Harrington(notes) or Larry Hughes(notes) for McGrady, Joey Dorsey(notes) and Brian Cook(notes).

As talks stood on Monday, the price of dumping the burdensome contract of Jeffries – who is owed $6.9 million next season – comes with the Knicks and Rockets exchanging 2011 first-round picks and the Knicks’ 2012 first-round choice going to Houston. New York also might include a 2010 second-round pick.